What is the mark-up of price on average cost, Microeconomics

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What is the mark-up of price on average cost

Problem

Suppose that a firm in monopolistic competition faces a demand curve p = 10/X² and cost curve C = 50 + 30X. What is the mark-up of price on average cost? Suppose that the demand curve now shifts out, so p = 20/X². What happens to the mark-up?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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